Riordan Manufacturing
Essay Preview: Riordan Manufacturing
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Running Head: PROBLEM SOLUTION: RIORDAN MANUFACTURING
Problem Solution: Riordan Manufacturing
Problem Solution: Riordan Manufacturing
Riordan Manufacturing a fortune 1000 enterprise company was founded in 1991 by Dr. Riordan who was a well known chemist. Riordan initially a research and development company was interested in licensing his patent. The company main focus was on processing polymers into high tensile strength plastic substrates.
The company has done some major purchases such as in 1992 when Riordan purchased a fan manufacturing plant in Pontiac, MI, then in 1993 the company acquired a manufacturing plant in Albany, GA and finally in 2000 when it opened it operations in China. Once the purchase was made the entire fan operations was moved to china.
The company has seen some declining sales and uneven profits over the past two years. Because of the position that the company has taken the company has had to adopt a customer relationship management system. The company has had problems with keeping their employees morale up and retaining the customers. This paper will embark on several of the major issues that Riordan is facing at the present time. The company has issues with incentives and compensation and there is a big issue with this and deciding which directions to take to correct the problems.
Describe the Situation
Issue and Opportunity Identification
Riordan has implemented a Six Sigma quality approach and is ISO9000 certified. Over the last two years Riordan Manufacturing has noticed a decline in its sales and profits have been very erratic. Michael Riordan who double as the founder and CEO has made a promise to take the steps to make some very needed changes in the company with his main focus being on the new conversion to the customer relationship management system that was mentioned earlier also known as (CRM). With the company operating three plants Mr. Riordan is hoping to see a big improvement in the company sales and see a complete turn around in the sales figure.
Stakeholder Perspectives/Ethical Dilemmas
Riordan manufacturing is represented by several people from the leadership team Michael Riordan (CEO), Kenneth Collins (VP, Research and Development), Hugh McCauley (COO), Charles Lacy (VP Sales and Marketing), Maria Trinh (Chief Information Officer),Yvonne McMillan (Director of HR), Dale Edgel (CFO), and Barbara Masterson (Human Capital Consulting Senior Consultant).
Collins has been with the company from the beginning and has seen the company go through many changes and is concerned that he may be losing key figures because of the lack of compensation All the stakeholder have fears about the direction that the company is going. There is reason for concern and these concerned needs to be voiced before determining the a solution or alternative that will work for the company
Riordan stakeholder consists of the management, employees and customers. Each of the three groups has its own rights and responsibilities but in the end it is the CEO that makes the final decision. Riordan believes that t he company takes good care of its customers. He also believes that employee loyalty would go a long way towards solving t he companys motivation problems. These employees are seeking wages that proper for the jobs that they are doing or that go along with the title and the experience.
The customers are always first is a good way to think. These customers deserve to be treated fairly and if there is any problems the customer should be handled professionally at all times.
Frame the “Right” Problem
Riordan manufacturing is represented by several people from the leadership team Michael Riordan (CEO), Kenneth Collins (VP, Research and Development), Hugh McCauley (COO), Charles Lacy (VP Sales and Marketing), Maria Trinh (Chief Information Officer),Yvonne McMillan (Director of HR), Dale Edgel (CFO), and Barbara Masterson (Human Capital Consulting Senior Consultant).
Collins has been with the company from the beginning and has seen the company go through many changes and is concerned that he may be losing key figures because of the lack of compensation All the stakeholder have fears about the direction that the company is going. There is reason for concern and these concerned needs to be voiced before determining the a solution or alternative that will work for the company
Riordan stakeholder consists of the management, employees and customers. Each of the three groups has its own rights and responsibilities but in the end it is the CEO that makes the final decision. Riordan believes that t he company takes good care of its customers. He also believes that employee loyalty would go a long way towards solving t he companys motivation problems. These employees are seeking wages that proper for the jobs that they are doing or that go along with the title and the experience.
The customers are always first is a good way to think. These customers deserve to be treated fairly and if there is any problems the customer should be handled professionally at all times.
Describe the “End-State” Vision
Riordan Manufacturing goal is to increase sales but first they have to work on the leadership at the company. There is a rift between the employees and the staff. The Senior Vice President of Research and Development and CFO seems to have some issues that need to be worked out immediately. The HR Director feels that there needs to be a more active and strategic role in the organization. The company has to develop programs that would improve the skills of the employees and provide growth opportunities with the company and this will definitely improve the morale of the employees and staff. Since several employees that have key roles with the company have anticipated leaving the company because of the compensation package that currently exist. Their seem to be a communication breakdown and this is one problem that has to be fixed.
Identify the Alternatives and Benchmarking Validation
Evaluate the Alternatives
From the reading it is clear that Riordan has many issues to consider and change. Changes are something that is hard for so many of us to do. Nothing remains the same so this Riordan must look at the changes that have to be made the company to abreast of current situations. As mentioned earlier on thing the company can